Energy Recovery (ERII) to Release Quarterly Earnings on Wednesday

Energy Recovery (NASDAQ:ERII) is anticipated to post its quarterly earnings results before the market opens on Wednesday, February 19th. Analysts expect Energy Recovery to post earnings of $0.41 per share and revenue of $67.72 million for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Energy Recovery Trading Up 1.0 %

NASDAQ ERII opened at $14.86 on Wednesday. The stock has a market cap of $860.25 million, a P/E ratio of 43.71 and a beta of 1.18. The company’s fifty day simple moving average is $15.07 and its 200-day simple moving average is $16.35. Energy Recovery has a 52 week low of $12.26 and a 52 week high of $20.27.

Insiders Place Their Bets

In related news, Director Arve Hanstveit sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total transaction of $337,400.00. Following the completion of the sale, the director now owns 743,182 shares of the company’s stock, valued at $12,537,480.34. This represents a 2.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ERII. Scotiabank assumed coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective for the company. B. Riley reduced their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Evercore ISI dropped their price objective on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.